Ola Electric Mobility Limited declared its price band for IPO (initial public offering). The company will raise ₹6145 crore at the upper end and ₹6111 crore at the lower end of the IPO price band. Ola has fixed the price band of ₹72-76 per share of face value ₹10.
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| Ola EV |
| The fresh issue of the Ola IPO is up to ₹5500 crore and ₹645 crore offer for sale (OFS) by promoter selling shareholders and investors selling shareholders. |
Ola Electric Mobility Limited is Bengaluru base company. According to Ola chairman and MD Bhavish Agrawal, ₹1227 crore from fresh issue used for capital expenditure of the subsidiary OCT for the project, ₹800 crore for repayment .
Ola Electric introduced its first EV model the Ola S1 pro in December 2021, The next model Ola S1 in September 2022, the Ola S1 Air in August 2023 and the Ola S1 x+ in December 2023.
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| Ola S1 Pro |
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| Ola S1 Air |
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| Ola S1 X |
OLA Electric IPO Lot Size and Amount
(Each lot shares multiple of 195)
Retail (Max): Lots-13 Amount ₹192,660
S-HNI (Min) Lots-14 Amount ₹207,480
S-HNI (Max) Lots- 67 Amount ₹992,940
B-HNI (Min) Lots-68 Amount ₹1,007,760
Ola IPO application details:
IPO Open Date Friday, August 2, 2024
IPO Close Date Tuesday, August 6, 2024
Basis of Allotment Wednesday, August 7, 2024
Initiation of Refunds Thursday, August 8, 2024
Credit of Shares to Demat Thursday, August 8, 2024
Listing Date Friday, August 9, 2024
Cut-off time for UPI mandate confirmation 5 PM on August 6
, 2024
